Housing Finance will launch a Ksh 10 billion bond in September in a bid to expand its mortgage business in Kenya.
According to Business Daily, HF secured the lead transaction advisory service of NIC securities and Standard Chartered Bank while Walker Kontos law firm will handle the legal aspect of the
deal.
There is a housing shortage in Kenya and Housing Finance will be seeking to meet the high demand for houses in Kenya.Demand for houses has been on the increase over the past four years due to budgetary incentives given to home owners and the low interest rates in the
market.
There is a large demand-supply gap in the housing sector and the ksh 10 billion bond will give Housing Finance additional capital to finance construction projects in housing, office space and business
premises.
Housing Finance is currently the only fully fledged mortgage service provider in Kenya after Savings and Loans (S&L) was acquired by Kenya
Commercial Bank.
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